Cosmetic Prices Rise

I stopped by CVS Pharmacy Thursday to buy lipstick and mascara. It had been a couple of months since my last cosmetic purchase, and I was in for a shocker.

$8 for lipstick. $8 for mascara.

My jaw dropped.

I didn't purchase. I refuse to pay $8 for a tube of lipstick.

Once home, I started researching the price increase. Raw material cost inflation, price fixing, and licorice are behind the retail cosmetic price increase.

China Daily reports that Estee Lauder Inc. raised the price of its brands by an average of 8 to 10 percent on July 1, a move that follows price increases by its competitors, analysts say.

"There are a couple of factors contributing to the increase in prices. The first is that the cost of the commodities used to make these products has increased, and many brands are raising prices so that their margins do not erode too much," Ben Cavender, associate principal of China Market Research Group (CMR), told China Daily.

The rising cost of licorice, used in cosmetics and personal care products, contributes to the increase.

Earlier this year L'Oreal and Proctor and Gamble were fined for cosmetics price fixing, reports CBCNews. They are among eight companies getting a $67M penalty for alleged cartel activities.

CoverGirl, owned by Proctor and Gamble, who I have used for years due to the quality and reasonable pricing, has increased its cosmetic prices significantly.

Wet 'n Wild brand cosmetics remain reasonably priced, but I dislike the quality.

I understand that retail prices increase when manufacturing and raw material costs rise, but how can you justify a retail price of $6 for a .04 oz (1.2 g) lip liner pencil?

I don't know about you, but I will stop wearing cosmetics daily now. If the prices increase more, I may stop wearing make-up.

Best Prices: Where to Buy

In Northeast Cobb, the Walmart Supercenter and Dollar Tree offer the best deal on cosmetics, although Dollar Tree has a limited cosmetic inventory.

The CVS Pharmacy on Canton Road and the CVS Pharmacy on Piedmont Road are presently offering a cosmetic sale of buy one get one 50 percent off.

Where do you buy reasonably priced cosmetics?